The car insurance rate that is included in the insurance that you acquired are sometimes given by the government or by the insurance company.
The rates are given in the accordance to set of rules and regulations that are set by the government to be followed by the insurance companies that offer these auto insurances.
If the rates are not mandated by the government, then the insurance rates for vehicles are taken from the calculations that are based on actual statistical information.
The insurance rates are also affected by factors such as characteristic of the car, the insurance coverage.
The age, gender and driving history of the driver is also one of the factors that can affect the rate of the car insurance.
The car insurance premium can also be based on how the car is used.
There are usually three basic factors that these premiums are derived.
The gender, age and the social or marital status are the three vital factors in calculating the car insurance premium that you are likely to be paying when you acquire car insurance.
Gender is very important for men are most likely to drive cars than women and they are also involved in a higher rate for car accidents to happen.
Young women are most likely to receive lower insurance rate than their male counterparts.
Age is also very important in deciding your won insurance premium.
Teen and young drivers would usually receive higher auto insurance rates that adults.
Young drivers can afford to have discounts on the other hand.
They are given discounts if they have been under credited driving training and courses.
They can also have discounts by having their good grades.
Insurance companies also offer lower rates to married couples for it shows financial stability and the ability to pay their premiums in time.